NASSAU, Bahamas — This year it will take five days or less to start a business, according to the government, as it rolls out a new provisional business license, the Nassau Guardian reported January 7.
The Ministry of Finance explained in a press release yesterday that the expedited business licenses will be available this year to “low-risk” businesses.
“With a provisional license it will take just five days or less to start a new business,” Financial Secretary Marlon Johnson said in the release.
“This will be available to all low-risk businesses. It will be valid for 90 days.” Within the 90-day period, entrepreneurs will be able to operate while they complete the full licensing process.
“The fee for starting a new business has also been removed, eliminating another barrier for entrepreneurs,” Johnson added.
“Ultimately, new businesses will still need agency approvals from the National Insurance Board, Department of Environmental Health Services, Department of Physical Planning and other relevant entities. However, while these processes are underway, the provisional license will enable them to move forward with critical tasks to get up and running immediately.” https://thenassauguardian.com/2019/01/07/government-rolling-out-a-new-provisional-business-license/
